Healthcare of Ontario Pension Plan Trust Fund Has $9.22 Million Position in NIKE, Inc. (NYSE:NKE)

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 35.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,300 shares of the footwear maker’s stock after purchasing an additional 27,400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in NIKE were worth $9,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Soros Capital Management LLC lifted its holdings in NIKE by 3.6% in the third quarter. Soros Capital Management LLC now owns 36,804 shares of the footwear maker’s stock valued at $3,253,000 after buying an additional 1,264 shares during the period. Cadence Bank lifted its stake in shares of NIKE by 2.8% in the 3rd quarter. Cadence Bank now owns 55,282 shares of the footwear maker’s stock valued at $4,887,000 after purchasing an additional 1,520 shares during the period. Lazard Freres Gestion S.A.S. grew its stake in shares of NIKE by 23.2% during the third quarter. Lazard Freres Gestion S.A.S. now owns 747,675 shares of the footwear maker’s stock worth $66,094,000 after purchasing an additional 140,632 shares during the period. Quantbot Technologies LP bought a new stake in NIKE in the third quarter valued at about $6,844,000. Finally, D.A. Davidson & CO. lifted its stake in NIKE by 11.8% in the third quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock valued at $9,278,000 after buying an additional 11,108 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $78.77 on Friday. The stock has a market cap of $118.10 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.90 and a beta of 1.03. The business’s fifty day moving average is $80.18 and its 200 day moving average is $82.17. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Sell-side analysts anticipate that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.03%. NIKE’s payout ratio is currently 45.85%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. Morgan Stanley upped their price target on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Needham & Company LLC started coverage on shares of NIKE in a research report on Friday, November 22nd. They set a “buy” rating and a $84.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. UBS Group lifted their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI cut their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $95.86.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.